Wintrust Financial Corp. Q3 2024 10-Q Filing

TL;DR

**WTFC Q3 2024 10-Q filed. Shows loan portfolio details vs. end of 2023.**

AI Summary

Wintrust Financial Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial position and performance, including its assets, liabilities, and equity. Specific financial data points such as loans and finance receivables are provided for the periods ending September 30, 2024, December 31, 2023, and September 30, 2023.

Why It Matters

This filing provides investors and analysts with a detailed look into Wintrust Financial Corp.'s financial health and operational performance during the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a financial institution, Wintrust is subject to various market, credit, and regulatory risks inherent in the banking sector.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2023-12-31 — Previous Year End Date (Provides a comparison point for financial performance and position from the end of the prior fiscal year.)
• 2023-09-30 — Prior Year Q3 End Date (Allows for year-over-year comparison of financial metrics.)

Key Players & Entities

• WINTRUST FINANCIAL CORP (company) — Filer
• 2024-09-30 (date) — Period of Report
• 2024-11-08 (date) — Filing Date
• 0001015328 (company) — Central Index Key
• IL (location) — State of Incorporation

FAQ

Filing Documents

• wtfc-20240930.htm (10-Q) — 5824KB
• exhibit3112024q3.htm (EX-31.1) — 9KB
• exhibit3122024q3.htm (EX-31.2) — 9KB
• exhibit3212024q3.htm (EX-32.1) — 6KB
• 0001015328-24-000253.txt ( ) — 26628KB
• wtfc-20240930.xsd (EX-101.SCH) — 92KB
• wtfc-20240930_cal.xml (EX-101.CAL) — 200KB
• wtfc-20240930_def.xml (EX-101.DEF) — 671KB
• wtfc-20240930_lab.xml (EX-101.LAB) — 1252KB
• wtfc-20240930_pre.xml (EX-101.PRE) — 961KB
• wtfc-20240930_htm.xml (XML) — 6706KB

— FINANCIAL INFORMATION

PART I. — FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 48

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 76

Controls and Procedures

ITEM 4. Controls and Procedures 78

— OTHER INFORMATION

PART II. — OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 78

Risk Factors

ITEM 1A. Risk Factors 79

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

ITEM 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 79

Defaults Upon Senior Securities NA

ITEM 3. Defaults Upon Senior Securities NA

Mine Safety Disclosures NA

ITEM 4. Mine Safety Disclosures NA

Other Information

ITEM 5. Other Information 79

Exhibits

ITEM 6. Exhibits 80

Signatures

Signatures 81 Table of Contents PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS WINTRUST FINANCIAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CONDITION (Unaudited) (Unaudited) (Dollars in thousands, except per share data) September 30, 2024 December 31, 2023 September 30, 2023 Assets Cash and due from banks $ 725,465 $ 423,404 $ 418,088 Federal funds sold and securities purchased under resale agreements 5,663 60 60 Interest-bearing deposits with banks 3,648,117 2,084,323 2,448,570 Available-for-sale securities, at fair value 3,912,232 3,502,915 3,611,835 Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $ 479 , $ 347 and $ 381 at September 30, 2024, December 31, 2023 and September 30, 2023, respectively ($ 3.1 billion, $ 3.2 billion and $ 3.1 billion fair value at September 30, 2024, December 31, 2023 and September 30, 2023, respectively) 3,677,420 3,856,916 3,909,150 Trading account securities 3,472 4,707 1,663 Equity securities with readily determinable fair value 125,310 139,268 134,310 Federal Home Loan Bank and Federal Reserve Bank stock 266,908 205,003 204,040 Brokerage customer receivables 16,662 10,592 14,042 Mortgage loans held-for-sale, at fair value 461,067 292,722 304,808 Loans, net of unearned income 47,067,447 42,131,831 41,446,032 Allowance for loan losses ( 360,279 ) ( 344,235 ) ( 315,039 ) Net loans 46,707,168 41,787,596 41,130,993 Premises, software and equipment, net 772,002 748,966 747,501 Lease investments, net 270,171 281,280 275,152 Accrued interest receivable and other assets 1,721,090 1,551,899 1,674,681 Trade date securities receivable 551,031 690,722 — Goodwill 800,780 656,672 656,109 Other acquisition-related intangible assets 123,866 22,889 24,244 Total assets $ 63,788,424 $ 56,259,934 $ 55,555,246 Liabilities and Shareholders' Equity Deposits: Non-interest-bearing $ 10,739,132 $ 10,420,401 $ 10,347,006 Interest-bearing 40,665,834 34,976,769 34,645,680 Total deposits 51,404,966 45,397,170 44,992,686

View Full Filing

View this 10-Q filing on SEC EDGAR